Roku (NASDAQ:ROKU) Shares Gap Up to $58.66

Roku, Inc. (NASDAQ:ROKU) gapped up prior to trading on Tuesday . The stock had previously closed at $58.66, but opened at $60.12. Roku shares last traded at $59.79, with a volume of 2,722,115 shares traded.

Analysts Set New Price Targets

ROKU has been the subject of several analyst reports. Oppenheimer downgraded shares of Roku from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Seaport Res Ptn raised shares of Roku from a “neutral” rating to a “buy” rating in a research note on Monday. Stephens restated an “overweight” rating and issued a $105.00 price target on shares of Roku in a research note on Friday, February 16th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $89.00 price target on shares of Roku in a report on Friday, April 26th. Finally, Wedbush decreased their price objective on Roku from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Roku has an average rating of “Hold” and a consensus price target of $84.21.

Roku Stock Performance

The business has a 50 day simple moving average of $62.24 and a 200-day simple moving average of $78.31. The stock has a market capitalization of $8.49 billion, a P/E ratio of -14.82 and a beta of 1.69.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The firm had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. During the same period last year, the company posted ($1.38) EPS. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. Equities research analysts forecast that Roku, Inc. will post -1.98 EPS for the current fiscal year.

Insider Activity

In other news, insider Charles Collier sold 4,182 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the completion of the sale, the insider now owns 8,474 shares in the company, valued at approximately $550,810. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Roku news, Director Jeffrey M. Blackburn bought 8,000 shares of Roku stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 4,182 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $65.00, for a total value of $271,830.00. Following the completion of the sale, the insider now owns 8,474 shares of the company’s stock, valued at approximately $550,810. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,545 shares of company stock worth $4,364,035. Insiders own 13.63% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in shares of Roku by 206.7% in the first quarter. Janney Montgomery Scott LLC now owns 26,925 shares of the company’s stock valued at $1,755,000 after purchasing an additional 18,146 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Roku by 65.5% in the first quarter. Private Advisor Group LLC now owns 22,305 shares of the company’s stock valued at $1,454,000 after purchasing an additional 8,824 shares in the last quarter. Fortis Group Advisors LLC purchased a new stake in shares of Roku in the first quarter valued at $470,000. Saxony Capital Management LLC lifted its holdings in shares of Roku by 35.7% in the first quarter. Saxony Capital Management LLC now owns 5,326 shares of the company’s stock valued at $347,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Warther Private Wealth LLC purchased a new stake in shares of Roku in the first quarter valued at $4,802,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.